TechPrecision Receives Additional Medical Purchase Orders Exceeding $1.5 Million
CENTER VALLEY, Pa., Sept. 10, 2012 /PRNewswire/ — TechPrecision Corporation (OTC Bulletin Board: TPCS) (“TechPrecision” or “the Company”), an industry leading manufacturer of precision, large-scale fabricated and machined metal components and systems with customers in the alternative energy, cleantech, medical, nuclear, defense, aerospace and other commercial industries, today announced that its Ranor Division has received multiple orders valued at over $1.5 million to produce product assemblies for Proton Beam cancer treatment equipment using “synchrocyclotron” technology that was recently cleared by the FDA (Food and Drug Administration). The majority of these new orders will ship in TechPrecision’s fiscal year 2013, which ends March 31, 2013, with one of the orders expected to ship in early FY2014.
“We have collaborated closely with our customer from their conceptualization of this revolutionary technology and are gratified that it has reached the commercialization stage with a significant production trajectory ,” said Mr. James Molinaro, CEO of TechPrecision Corporation. “This technology significantly reduces the size and cost of Proton Beam therapy units and it can deliver the proton mass to treat the cancer/tumor without damaging surrounding good tissue or cells. This is a huge benefit to patients and cancer treatment facilities alike and is why we expect these Proton Beam units will continue to take market share from the traditional GAMMA radiation technologies.”
About TechPrecision Corporation
TechPrecision Corporation, through its wholly owned subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical Components Co., Ltd., globally manufactures large-scale, metal fabricated and machined precision components and equipment. These products are used in a variety of markets including: alternative energy (Solar and Wind), cleantech, medical, nuclear, defense, industrial, and aerospace to name a few. TechPrecision’s goal is to be an end-to-end global service provider to its customers by furnishing customized and integrated “turn-key” solutions for completed products requiring custom fabrication and machining, assembly, inspection and testing. To learn more about the Company, please visit the corporate website at http://www.techprecision.com. Information on the Company’s website or any other website does not constitute a part of this press release.
Safe Harbor Statement
This release contains certain “forward-looking statements” relating to the business of the Company and its subsidiary companies. These forward looking statements are often identified by the use of forward-looking terminology such as “believes,” expects” or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the Company’s ability to generate business from long-term contracts rather than individual purchase orders, its dependence upon a limited number of customers, its ability to successfully bid on projects, and other risks discussed in the company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
Company Contact: Investor Relations Contact: Mr. Richard F. Fitzgerald Hayden IR Chief Financial Officer Brett Maas TechPrecision Corporation Phone: 646-536-7331 Tel: 1-610-246-2116 Email: email@example.com Email: Fitzgeraldr@techprecision.com www.techprecision.com
SOURCE TechPrecision Corporation